Thursday, May 30, 2013

HFF closes $9.625 million sale of two-building industrial property in Dulles, VA

WASHINGTON, D.C. – HFF announced today that it has closed the sale of Northpointe B & C, a two-building, 83,086-square-foot industrial property in Dulles, Virginia.

Bruce Strasburg
HFF marketed the property on behalf of the seller, Velsor Properties, LLC.  The property sold for $9.625 million free and clear of debt.

Northpointe B & C are located at 44901 and 44931 Falcon Place adjacent to Dulles International Airport and proximate to Dulles Toll Road (Route 267) and Route 28. 

  Situated less than one half of a mile from Dulles International Airport’s cargo entrance, the buildings are 87 percent leased to a diverse tenant base including The Richards Corporation. 

Samuel Fagelson
The HFF investment sales team representing the seller was led by senior managing director Bruce Strasburg and real estate analyst Samuel Fagelson.

“Investors were attracted to Northpointe because it offered the opportunity to acquire a well-leased property with a strong tenant base in immediate proximity to Dulles Airport’s cargo entrance.  

"Combined with the capital markets imbalance of scarce supply and strong demand for well-located assets, Northpointe attracted substantial interest from the investment community,” commented Strasburg.

Dulles International Airport, Main Terminal
Founded in 1997, Velsor Properties, LLC is recognized as one of the fastest growing real estate ownership companies in the metropolitan Washington, D.C. area.  

Velsor, through its affiliates, owns and manages 53 industrial, flex and office buildings in Northern Virginia and Maryland.  As of January 2013, Velsor owns and manages more than three million square feet of property.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
 Associate Director
 HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
 Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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